首先单独考虑Put option本身,在到期时刻T,期权的价值(Value)为,Max(X−ST,0),X为行权价格,ST为到期时刻T的股票价格。当ST<X的时候,Put option为实值状态(in the money),其价值为X−ST;当ST≥X时,期权为平值期权或虚值期权(at or out of the money),其价值为零。所以Max函数就可以用来取对应的值,...
Protective Put 是一种常见的期权策略，其主要目的是为持有的资产提供价格下跌的保护。这一策略由持有标的资产和买入看跌期权组成。在CFA考试中，标的资产通常指的是股票，因此Protective Put 等同于长持有股票（Long Stock）加上长持有看跌期权（Long Put）。由于策略中涉及的都是多头头寸，理解起来相对较为...
Put options give the holder of the option the right, but not the obligation, to sell shares to the option seller at a set price, called the strike price. Continuing the above example, you’ll be employing a protective put if you buy a put option on XYZ with a strike price of $20 ...
Protective put-保护看跌期权 Protective put-保护看跌期权 Holding share and buy puts options Long share + long put If an investor hold some shares and fear the share price fall, he can buy a certain number of put option, if the share price is fall, he can exercise the put option to prote...
This is also known as a “married put.” To protect a previously-purchased stock when the short-term forecast is bearish but the long-term forecast is bullish. A protective put position is created by buying (or owning) stock and buying put options on a share-for-share basis. In the ...
An option strategy in which a long position in an asset is combined with a long position in a put. 同样,按照上述英文的解读,是一种防止账户产生巨大损失的风险规避策略,保护性看跌期权是指买入一项资产的同时买入这项资产的看跌期权。 小G又要给大家举例子了:比如现在小G持有了一支股票,价格是50,但是为...
Protective put (also known as married put) is an option strategy in which an investor purchases a put option to guard against any loss on the underlying asset which he already owns. Protective put is like insurance against loss on the underlying asset....
要想delta=0,则用h份(即N(d1)份)股票:1份call option这样的配比。问题1:所谓delta hedge特指long stock + short call option这个组合吗?还是说这只是举个例子,有很多不同的组合都可以根据具体情况把delta调到0?问题2:经典题本章6.2 在进行delta hedge时用了long stock + long put option的组合,也就是prot...
A. buys a share of stock and a call option B. buys a put option and a C. all option D. buys a put option and a share of stock E. sells a put option and buys a call option F. n swer: (c) 相关知识点: 试题来源: 解析 Describe index options and the process known as cash ...
A long put option gives you the right—but not the obligation—to sell the underlying stock, exchange-traded fund (ETF), or other security at a certain price on or before the option’s expiration date. Once again, you can determine your risk point in advance. It’s called the strike or...